6:29pm: It's a six-year, $85.5MM contract according to Dan Connolly of The Baltimore Sun (all four Twitter links). There is no seventh year option but there is a no-trade provision, and escalators could push the total value to $91.5MM. Jones will earn $8.5MM in 2013, $13MM in 2014 and 2015, $16MM in 2016 and 2017, and $17MM in 2018 with a $2MM signing bonus.
In terms of total value, it's the second largest largest contract among active center fielders behind Matt Kemp's eight-year, $160MM deal with the Dodgers.
SATURDAY, 5:27pm: Roch Kubatko of MASNSports.com reports that the deal is done and an announcement could come today with a press conference tomorrow.
FRIDAY, 10:42am: The deal will cover six years and fall in the $85MM range, Rosenthal and Morosi report (on Twitter). This means the deal will buy out Jones' final arbitration year (presumably for $9-10MM) and five free agent seasons at approximately $15MM per year.
7:41am: Adam Jones is the best player on the first-place team in baseball's most competitive division and the Orioles aren't going to let him slip away. They are nearing a long-term contract extension with the center fielder, Ken Rosenthal and Jon Paul Morosi of FOX Sports report (plus Twitter links).
Jones completed his physical yesterday and the sides are in the process of completing the final details of the contract. The Orioles are making a commitment "well north" of Miguel Tejada's six-year, $72MM contract and Nick Markakis' six-year, $66MM extension, Rosenthal and Morosi report. This means the CAA Sports client will sign the largest contract in Orioles history. Dan Connolly of the Baltimore Sun expects the deal to be for five or six years and $80-90MM.
Jones, 26, is earning $6.15MM this year as a second-time arbitration eligible player. The extension will buy out one year of arbitration eligibility and an unknown number of free agent seasons.
Jones is hitting .311/.357/.601 in 196 plate appearances this year. He's on his way to establishing career-highs in home runs (14 so far) and slugging percentage. Though he has a career on-base percentage of .322, his walk rate and on-base percentage are both on the rise.
Earlier this month Dave Cameron of FanGraphs compared Jones' breakout to Matt Kemp's 2011 season and suggested an extension in the $120-140MM range could work for both sides. Check out MLBTR's Extension Tracker for more comparable contracts.
Photo courtesy of US Presswire.